Is Far North Side, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Far North Side is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Far North Side has remained a Seller's Market.

Key Takeaway

Far North Side is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Far North Side, IL

How much do homes in Far North Side, IL cost?

Median Sold Price

$352,020

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,767(+6.3%)

Key Takeaway

Homes in Far North Side have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Far North Side was $352,020 in May 2024, up 6.3% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $144.3K$155.4K
+7.6%
2 $258.4K$275K
+6.4%
3 $424.8K$439.9K
+3.6%
4 $565K$585.2K
+3.6%
5+ $625K$655K
+4.8%

Summary: Far North Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Neighborhoods

Sauganash
+14.5%
Far North Side
+6.3%

Housing Supply in Far North Side, IL

How many homes are available in Far North Side, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,2581,441+14.5%

Summary: The Far North Side real estate market had 1,441 homes for sale in May 2024, a 14.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 191213
+11.5%
2 445493
+10.8%
3 344396
+15.1%
4 151177
+17.2%
5+ 127162
+27.6%

Summary: The Far North Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 27.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3853860.3%

Asking Price vs. Sold Price

145 Homes Were Sold
Under Asking

56 Homes Were Sold
At Asking

185 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Far North Side, you could pay more than the asking price. 47.9% of homes here sold above asking price last month.

Summary: A total of 386 homes were sold or pending in Far North Side in May 2024, up by 0.3% month-over-month. Of the 386 sold homes, 38% were sold under asking, 15% were sold at asking, and 48% were sold over asking.

Days on Market for Far North Side, IL

How long does it take to sell a home in Far North Side, IL?

Average Sale Time

May 2023May 2024CHANGE
23 Days24 Days+5.0%

Summary: Homes in Far North Side had an average of 24 days on market in May 2024, up by 5% compared to last year.

Breakdown of Home Sale Times

330 Homes Were Sold
Under 30 Days

38 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Far North Side are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 386 homes were sold in Far North Side; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Far North Side, IL

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